GSA Capital Partners LLP Reduces Stock Position in Colgate-Palmolive Company $CL

GSA Capital Partners LLP trimmed its holdings in Colgate-Palmolive Company (NYSE:CL) by 65.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,252 shares of the company’s stock after selling 28,653 shares during the period. GSA Capital Partners LLP’s holdings in Colgate-Palmolive were worth $1,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. HighPoint Advisor Group LLC raised its holdings in Colgate-Palmolive by 0.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock valued at $1,255,000 after acquiring an additional 109 shares in the last quarter. Clear Harbor Asset Management LLC grew its holdings in Colgate-Palmolive by 2.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock worth $356,000 after acquiring an additional 113 shares in the last quarter. Cooper Financial Group increased its position in shares of Colgate-Palmolive by 4.0% in the 2nd quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock worth $270,000 after purchasing an additional 114 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of Colgate-Palmolive by 0.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after purchasing an additional 114 shares during the last quarter. Finally, Gould Capital LLC raised its stake in shares of Colgate-Palmolive by 38.7% in the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CL has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Citigroup boosted their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Royal Bank Of Canada increased their target price on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Colgate-Palmolive Trading Down 0.1%

NYSE CL opened at $91.90 on Monday. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a 50-day simple moving average of $91.67 and a 200-day simple moving average of $90.02. The firm has a market capitalization of $73.26 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 4.48 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. Colgate-Palmolive’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

Insider Buying and Selling

In related news, Director John T. Cahill sold 4,170 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This represents a 12.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the sale, the chief executive officer directly owned 362,231 shares in the company, valued at $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.43% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.